Market activity is fairly stable amid the new economic conditions. We've seen a decrease in offers and new listings but we are still seeing upwards of 70 offers a week in HRM.

Listing inventory is much lower than this time last year. It is unlikely we will see any significant price drops but we certainly won't see the same gains as earlier in the year. A cooling off period for the market is not bad news for buyers as things were extremely competitive prior to COVID.

  • Number of offers written: 30% decrease from 2019.
  • Number of new listings: 52% decrease from 2019.
  • Number of cancelled listings: 8 fewer in 2020.
  • Total active listings: 40% decrease from April 2019.

The big question is what happens when COVID restrictions lift. Some…

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Our weekly stats update sees sales slow further while the number of new listings is fairly similar. We've been focusing on offers written vs firms sales because it more current representation as to what's actually going on.

The number of "solds" in March was significantly higher than in 2019 because of the amount of activity before the lock down. April will see a slow down in these numbers but we won't know the actual affect on sales until May.

Far fewer offers are being written as time goes on, which means the number of firm sales we see in the next month will follow suit.

Questions about buying or selling a home and how these statistics might affect you?  Contact us below and we'll be on hand to answer all your questions. 

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This is our third installment of the Halifax real estate market amid the Covid-19 crisis. This is likely our new normal and will reflect what we can expect over the coming weeks and months.  Listing activity has slowed once more while sales actually picked up slightly over the last week. The number of cancelled listings has edged up, especially in comparison to the same week last year.  Once more of these offers turn into firm sales, we'll be able to get a better idea as to how values are being affected.  

 

Do you have questions about the market?  Drop us a line below!

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For those of you who don’t know me, my name is Chris Perkins and I’m the Broker/Owner of HaliPad Real Estate Inc.  I’ve been selling real estate since 2007 and moved to Halifax with my wife, Joelle in 2018.  We founded HaliPad Real Estate Inc that same year and opened an office on Gottingen Street, we’d love to have you stop by when things return to normal.

Now, before they return to normal, what does that mean for the local real estate market and how we do business. From a market perspective, things are more active than I was expecting.  We’ve written a couple of blog posts looking at new offers written and new listings in the past three weeks.  From March 16-22nd there were 133 offers written in comparison to 117 the year before.  From March…

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Best practices from Dr. Robert Strang when buying or selling a home amid the COVID crisis

The Real Estate Commission reached out to the Office of the Chief Medical Officer of Health, Dr. Robert Strang, asking what advice they would convey to the real estate industry during the COVID-19 pandemic. It was recommended that we comply with the following information:
  • Social distancing, travelling in separate vehicles and not showing houses of those in self-isolation.
  • Frequent hand hygiene. Real estate licensees and buyers will be going into homes where the risk may be unknown. It is extremely important for these individuals to touch as little as possible during the viewings and practice hand hygiene before entering and after leaving the premise.

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